STEDRA: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
STEDRA
Largest movements
- Receivables within one year -€282,610
down €282,610 (-99.0%), from €285,586 to €2,977
of which Trade receivables: -€269,912
- Intangible fixed assets -€16,783
down €16,783 (-53.0%), from €31,649 to €14,867
- Trade debts -€278,886
down €278,886 (-51.7%), from €539,039 to €260,153
- Short-term financial debts -€17,101
down €17,101 (-14.5%), from €117,913 to €100,813
- Profit (loss) carried forward -€11,935
down €11,935 (-2.2%), from -€545,004 to -€556,939
- Other debts +€9,390
up €9,390 (+19.3%), from €48,548 to €57,938
- Staff costs -€641,493
down €641,493 (-100%), from €641,493 to €0
- Gross operating margin -€393,198
down €393,198 (-95.6%), from €411,117 to €17,920
- Financial income -€81,195
down €81,195 (-100.0%), from €81,197 to €3
of which Non-recurring financial income: -€66,500
- Provisions +€38,611
no longer reported in 2025 (was -€38,611)
- Depreciation -€29,325
down €29,325 (-60.1%), from €48,763 to €19,437
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €325,751 | €26,701 | -€299,050 | -91.8% |
| Fixed assets | 21/28 | €32,420 | €15,023 | -€17,397 | -53.7% |
| Intangible fixed assets | 21 | €31,649 | €14,867 | -€16,783 | -53.0% |
| Tangible fixed assets | 22/27 | €771 | €156 | -€615 | -79.7% |
| Plant, machinery and equipment | 23 | €771 | €156 | -€615 | -79.7% |
| Furniture and vehicles | 24 | - | €0 | = | |
| Current assets | 29/58 | €293,330 | €11,678 | -€281,652 | -96.0% |
| Amounts receivable within one year | 40/41 | €285,586 | €2,977 | -€282,610 | -99.0% |
| Trade receivables | 40 | €269,912 | €0 | -€269,912 | -100% |
| Other amounts receivable | 41 | €15,675 | €2,977 | -€12,698 | -81.0% |
| Cash at bank and in hand | 54/58 | €7,187 | €7,659 | +€472 | +6.6% |
| Deferred charges and accrued income | 490/1 | €557 | €1,042 | +€485 | +87.1% |
| Total equity and liabilities | 10/49 | €325,751 | €26,701 | -€299,050 | -91.8% |
| Equity | 10/15 | -€437,559 | -€449,494 | -€11,935 | -2.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Contributions outside capital | 11 | €50,000 | - | -€50,000 | |
| Other | 1109/19 | €50,000 | - | -€50,000 | |
| Reserves | 13 | €57,445 | €57,445 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €52,445 | €52,445 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€545,004 | -€556,939 | -€11,935 | -2.2% |
| Amounts payable | 17/49 | €763,310 | €476,195 | -€287,115 | -37.6% |
| Amounts payable within one year | 42/48 | €712,515 | €425,400 | -€287,115 | -40.3% |
| Current portion of amounts payable after more than one year | 42 | €518 | €0 | -€518 | -100% |
| Financial debts | 43 | €117,913 | €100,813 | -€17,101 | -14.5% |
| Credit institutions | 430/8 | €117,913 | €100,813 | -€17,101 | -14.5% |
| Trade debts | 44 | €539,039 | €260,153 | -€278,886 | -51.7% |
| Suppliers | 440/4 | €539,039 | €260,153 | -€278,886 | -51.7% |
| Advances received on contracts in progress | 46 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €6,496 | €6,496 | = | 0.0% |
| Taxes | 450/3 | €6,496 | €6,496 | = | 0.0% |
| Other amounts payable | 47/48 | €48,548 | €57,938 | +€9,390 | +19.3% |
| Accrued charges and deferred income | 492/3 | €50,795 | €50,795 | = | 0.0% |
| Non-recurring operating income | 76A | €111,083 | €14,000 | -€97,083 | -87.4% |
| Remuneration, social security and pensions | 62 | €641,493 | €0 | -€641,493 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,763 | €19,437 | -€29,325 | -60.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€38,611 | - | +€38,611 | |
| Other operating charges | 640/8 | €16,241 | €1,775 | -€14,465 | -89.1% |
| Non-recurring operating charges | 66A | €317,718 | €0 | -€317,718 | -100% |
| Gross operating margin | 9900 | €411,117 | €17,920 | -€393,198 | -95.6% |
| Operating profit (loss) | 9901 | -€574,486 | -€3,293 | +€571,193 | +99.4% |
| Financial income | 75/76B | €81,197 | €3 | -€81,195 | -100.0% |
| Recurring financial income | 75 | €14,697 | €3 | -€14,695 | -100.0% |
| Non-recurring financial income | 76B | €66,500 | - | -€66,500 | |
| Financial charges | 65/66B | €24,791 | €8,481 | -€16,311 | -65.8% |
| Recurring financial charges | 65 | €21,852 | €8,481 | -€13,371 | -61.2% |
| Non-recurring financial charges | 66B | €2,940 | - | -€2,940 | |
| Profit (loss) for the period before taxes | 9903 | -€518,080 | -€11,771 | +€506,308 | +97.7% |
| Income taxes | 67/77 | €715 | €164 | -€551 | -77.1% |
| Profit (loss) for the period | 9904 | -€518,794 | -€11,935 | +€506,860 | +97.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€518,794 | -€11,935 | +€506,860 | +97.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.